The Texas Department of Banking (DOB) has compiled a list of its 2024 press releases and announcements, predominantly featuring enforcement actions. These include numerous consent orders and cease and desist orders against entities such as MoonPay USA LLC, Kraken, CoinZoom, Inc., Alliance Payroll Services, LLC, and others. The actions address a range of violations, including alleged money transmission irregularities, unauthorized banking activities, and other compliance failures. The DOB also issued consumer alerts regarding fraudulent websites and specific banks, and announced a new Chief Information Officer.

These enforcement actions indicate active regulatory oversight by the Texas DOB. Regulated entities, particularly those involved in money transmission or offering financial services within Texas, should review these actions to understand the types of violations being cited and the potential penalties. Compliance officers should ensure their operations align with Texas banking regulations to avoid similar enforcement actions, which can include prohibitions on further participation in the financial industry and potential fines. The nature of these actions suggests a need for robust compliance programs, particularly concerning customer onboarding, transaction monitoring, and adherence to licensing requirements.